What is the purpose of the meeting?

W:  Well, we’re here today to look at some of the reasons for the decline in profits which has affected this subsidiary. I’d like to ask if anyone has any comments on it before we start.
M: Well, I think we have to face up to several realities and what I have to say is in three parts and will take about twenty minutes.
W: Er, Sam we don’t have much time--it’s really your main points we’re most interested in.
M: WeI1, the three points I want to make can be made in three sentences.  First, sales are down, but only by 5% more than for the group as a whole. Secondly, our budget for sales has been kept static--it hasn’t increased--not even with inflation so we’re trying to do better than last year on less money. Thirdly, the products are getting old we need a new generation.
W: So let me summarize that. You say that sales are down but not by so much, that you’ve had less money to promote sales and that the products are old? Is that right?
M: In a nutshell.